Do I need a Power of Attorney?
There are many reasons to use a power of attorney, and it is important to learn about the various types of attorney that are specifically for your needs. Powers of attorney are useful for a will, finances and health care during your estate planning documents. Some are a good idea to begin as early as you can, because you never know when an emergency will happen, and a power of attorney will be needed.
If you are planning on permitting another person to perform certain legal acts on his or her behalf, you most likely need a power of attorney. A power of attorney can allow another person to handle any financial and health care matters, or even caring for your children. The person who forms the power of attorney is known as the principal and the person who is granted authority over the affairs is the attorney-in-fact. You cannot lose control of your assets or the decision making once you use a power of attorney. The power of attorney only steps in if you are no longer mentally capable of running your personal, legal, and financial affairs.
Medical decisions for the principal can take place once and if the person has become unable to. This allowed the attorney-in-fact to make decisions for the principal and no one else is granted this authority. If the attorney-in-fact does not have sufficient knowledge in a decision, they can appoint an agent to handle this part of the transaction on their behalf. The power of attorney completed in time can ensure these problems will not occur when you no longer have the ability to manage them on your own.
Here at DAL Law Firm, Attorney Darcel Lobo, can offer her guidance if you have more questions on whether you need a power of attorney. Call our office today at (206) 408-8158 or email [email protected]. We look forward to assisting you.
19803 1st Avenue S.
Normandy Park, WA 98148
T (206) 408-8158
F (206) 374-2810
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